ED conducts searches on Paytm, PayU premises

BENGALURU: The Enforcement Directorate (ED) is said to be carrying out searches on multiple locations of fintech firm Paytm and Payment solutions provider PayU in connection with the Chinese loan apps case.For over a few weeks now, the agency has been conducting money laundering investigations against many NBFCs and their fintech partners for predatory lending practices in violation of the RBI guidelines. Recently, it searched the premises of Razorpay, Cashfree Payments and Paytm.